This paper uses annual aggregate data for 36 low or middle income countries covering the period 1995-2001 to test the responsiveness of investment to the sources of finance under (un)favourable regimes for investment. Two sources of private investment finance are considered: private investment...

Conventional treatments of fungibility, such as in Assessing Aid, are concerned with evidence that aid recipients do not increase sufficiently (that is, by the amount of aid) expenditure on specific areas favoured by donors. In other words, fungibility implies that recipients divert aid to...

Why has growth, especially in exports, in low-income developing and transitional countries been low relative to the rest of the world? Why is it that such countries appear not to be benefiting from globalisation? These are the questions addressed by the studies in this collection, and the...

Uganda has made significant progress in reducing policy-induced anti-export bias in its trade policy in the 1990s. Taxes on exports have been abolished, and import protection has been reduced considerably. Such trade barriers are only a component of thee transaction costs associated with trade....

This paper contributes to the literature on FDI and economic growth. We deviate from previous studies by introducing measures of the volatility of FDI inflows. As introduced into the model, these are predicted to have a negative effect on growth. We estimate the standard model using...